Parliament: Finance Minister AMA Muhith has proposed increasing the Excise Duty on bank deposit and air tickets in the new budget for fiscal year 2017-18.

As per the proposal, Excise Duty of Tk 800 will be imposed instead of existing Tk 500 in cases where the balance, whether debit or credit, exceeds Tk 1 lakh but does not exceed the limit of Tk 10 lakh.

Similarly, Tk 2,500 will be imposed instead of existing Tk 1,500 in cases where the balance exceeds Tk 10 lakh but does not exceed the limit of Tk 1 crore; Tk 12,000 will be imposed instead of existing Tk 7,500 in cases where the balance exceeds Tk 1 crore but does not exceed the limit of Tk 5 crore and Tk 25,000 will be imposed instead of existing Tk 15,000 in cases where the balance exceeds Tk 5 crore.

In addition, the Finance Minister proposed revising the existing Excise Duty on airline tickets except for domestic travels and travel to the SAARC countries which is proposed to keep the same as present.

As per the proposal, Tk 2,000 Excise Duty will be imposed on airline tickets instead of existing Tk 1,000 for travel to any Asian countries except the SAARC countries;
Tk 3,000 on airline tickets instead of existing Tk 1,500 for travel to the Europe, the USA and other countries of the world.

In order to avoid any inconvenience of travelers, this Excise Duty will be collected at the time of purchasing air tickets.